Management of Corporate Sustainability

The sustainability management system is based on Corticeira Amorim's mission and core values, and envisages the following activities:

• Consultation of stakeholders in order to continually assess the strategic priorities and performance in terms of sustainability;
• Definition of the sustainability strategy, based on the economic, social and environmental objectives, challenges and priorities;
• Implementation of actions and initiatives necessary for compliance with the defined aims and regular performance monitoring;
• Implementation of an organisational structure which allows for the effective alignment of the company's policies and practices in this matter.

Stakeholder Consultation

Since 2009, Corticeira Amorim has defined a Stakeholder consultation and engagement with Stakeholders that is considered to be fundamental for validation of the company’s strategic options and for understanding of expectations regarding the matters to be monitored and communicated, as well as conception of a stakeholder engagement strategy.

The consultation process involves, in a first step, the mapping of stakeholders and takes into account the following criteria:

• Influence - stakeholders who have, or may have, influence or decision-making power, and whose action facilitates or hinders CORTICEIRA AMORIM’s performance;
• Dependency - stakeholders who are impacted by CORTICEIRA AMORIM’s business activity;
• Responsibility - stakeholders to whom CORTICEIRA AMORIM has, or may have, legal, financial or operational responsibilities.

The results of the most recent stakeholder consultation process are presented in the 2018 Sustainability Report.

Definition of the sustainability strategy

The strategic alignment of the whole organisation in relation to sustainability is enhanced by the use of the balanced scorecard method as a whole and individually in the Business Units, whose strategy charts also include sustainable development objectives. The Board of Directors is responsible for approving the strategic objectives, initiatives and priority actions.

Identification of the strategic priorities and their underlying initiatives results from the vision of the company's governing bodies, taking into account the concerns identified by the consulted stakeholders, benchmarking analysis and alignment with the UN’s 17 Sustainable Development Objectives (SDOs).

 Implementation of actions and initiatives

The teams responsible for applying sustainable development practices in each Business Unit implement initiatives and actions that are necessary to achieve the defined objectives and regularly monitor performance. In order to coordinate in a single programme all of Corticeira Amorim’s activities relating to sustainable development and to mobilise the entire group in support of this civic initiative, Corticeira Amorim has implemented the "Natural Choice" sustainability programme.

Natural Choice Programme

It is the sustainability programme of Corticeira Amorim which aims to raise the awareness of employees and the community to adopting more environmentally friendly behaviour, engaging them in the challenge of sustainability.

Organisational Structure

The organizational structure enables effective management and alignment between the group’s sustainable development strategy, policies and practices. The support areas are oriented towards coordination of the activity of the BUs and their respective functional areas. The Executive Board administrator is responsible for periodic monitoring. Sustainability is monitored by António Rios de Amorim, CEO and Chairman of Corticeira Amorim.

Each BU has dedicated teams responsible for the implementation of sustainable development practices, considering different areas of intervention and different levels of responsibility. They are responsible for:

• Guaranteeing the BU's alignment with Corticeira Amorim’s strategic guidelines on sustainability;
• Identifying and proposing new challenges for this area;
• Conducting internal and external benchmarking exercises to leverage organisational performance;
• Identifying and proposing necessary support initiatives to achieve the defined objectives and targets;
• Implementing the initiatives;
• Monitoring results.